TUTORIAL PRE-ADJUSTED FINANCIAL STATEMENTS

QUESTION 1

Kirana Maju Enterprise sells electrical products for local market. The record of the company
showed the following list of account balances as at 30 April 2023.

RM
Capital 470,000
Loan from RHB Bank 12,000
Bank overdraft 1,500
Land and building 230,000
Motor van 61,000
Office equipment 45,000
Accounts receivable 21,500
Accounts payable 16,500
Fixed deposit 35,000
Cash in hand 41,500
Inventory as at 1 May 2022 13,700
Purchases 54,500
Sales 93,800
Return inwards 1,600
Return outwards 1,100
Carriage inwards 800
Interest on fixed deposit 650
Rental received 3,500
Commission received 1,800
Wages 34,700
Motor vehicle expenses 2,200
Interest on loan 450
Water and utility 1,740
Insurance expense 1,360
Telephone expense 200
Drawings 1,960
Carriage outwards 640
Investment in Amanah Saham National 53,000

Inventory at 30 April 2023 is RM45,000.

You are required to prepare the followings:

a. A Trial Balance as at 30th April 2023.
b. A Statement of Profit or Loss for the year ended 30th April 2023.
c. A Statement of Financial Position as at 30th April 2023.
QUESTION 2

Jemari Enterprise, owned by Nik Muhammad Ahnaf served assorted malay kuih at Bandar
Pusat Jengka Pahang. The following balances were extracted from the books of Jemari
Enterprise for the year ended 31st December 2022:

RM
Capital 500,000
Accounts Payable 120,000
Cash at Bank 90,000
Accounts Receivables 70,000
Bank overdraft 50,000
5% Long term Loan 150,000
Mortgage on Premises 200,000
Drawings 70,000
10% Fixed Deposit 180,000
Land and Building 700,000
Motor vehicles 130,000
Opening Stock 10,000
Sales 820,000
Purchase Returns 30,000
Purchases 500,000
Sales Returns 40,000
Furniture and Fittings 55,000
Interest on Fixed Deposit 8,000
Stationery 1,000
Interest on loan 7,500
Utilities expenses 13,000
Wages and Salaries 20,000
Commission Income 2,000
Dividends from Investment 3,500
Rental Income 3,000

Stock in hand as at 31st December 2022 was valued at RM8,000.

Required:

a) Prepare a Trial Balance as at 31st December 2022.

b) Prepare a Statement of Profit or Loss for the year ended 31st December 2022.

c) Prepare a Statement of Financial Position as at 31st December 2022.

QUESTION 3

The table below is a list of account balances extracted on 30th June 2022 by Miss Anya, a sole
trader who runs a retail business, Spy Family Enterprise.

RM
Capital 177,000
Sales 340,000
Purchases 170,000
Land and buildings 130,000
Long-term loan 120,000
Motor vehicle 72,000
Machinery 67,000
Office equipment 53,000
Furniture 45,000
Long-term investment 40,000
Inventory (as at 1st July 2021) 36,000
Cash at bank 31,000
Account receivable 26,000
Account payable 23,000
Bank overdraft 22,700
Short-term loan 21,000
Salaries 12,300
Cash in hand 7,600
Insurance 5,700
Rental expense 4,500
General expenses 4,100
Water and electricity 3,900
Rental income 3,700
Commission received 3,500
Dividend received 3,300
Interest on loan 3,100
Petrol expense 2,600
Interest received 2,200
Drawings 1,600
Return inwards 900
Stationeries 800
Return outwards 700

The closing inventory was valued at RM35,000.

You are required to prepare:

a. Prepare a Trial Balance as at 30th June 2022.
b. Prepare a Statement of Profit or Loss for the year ended 30th June 2022.
c. Prepare a Statement of Financial Position as at 30th June 2022.
QUESTION 4

The table below is a list of account balances extracted on 31st December 2021 by Mr
Sebastien, a sole trader who runs a retail business, Hoodwink Enterprise.

RM
Capital 200,000
Drawings 1,500
Sales 326,250
Purchases 166,900
Return inwards 850
Return outwards 400
Inventory (as at 1st January 2021) 35,000
Motor vehicle 71,000
Land and buildings 140,000
Office equipment 52,000
Machinery 66,000
Furniture 44,000
Water and electricity 3,800
Salaries 12,200
Rental expense 4,400
Insurance 5,600
Stationeries 700
Petrol expense 2,500
General expenses 4,000
Account receivable 25,500
Account payable 21,750
Bank overdraft 20,650
Short-term loan 20,000
Long-term loan 110,500
Investment in fixed deposit 35,400
Interest received 2,100
Interest on loan 3,000
Commission received 3,400
Dividend received 3,200
Rental income 3,600
Cash in hand 7,500
Cash at bank 30,000

The closing inventory was valued at RM10,200.

You are required to prepare:

a. Prepare a Trial Balance as at 31st December 2021.

b. Prepare a Statement of Profit or Loss for the year ended 31st December 2021.
c. Prepare a Statement of Financial Position as at 31st December 2021.
QUESTION 5

The following information was extracted from the books of Rana Enterprise for the year
ended 31 December 2021.

Particulars RM
Office equipment 35,000
Fixtures and fittings 20,000
Accounts receivable 21,500
Accounts payable 18,700
Sales 160,150
Purchases 85,250
Returns inwards 1,150
Returns outwards 2,500
Inventory as at 1 January 2021 38,000
Investment in Unit Trust 30,000
Insurance 10,000
Rent 8,500
Utilities 7,890
Commission received 11,200
5% Loan 50,000
Import duty 3,250
Salaries 22,000
Advertising 3,200
Interest received 5,500
Cash 6,900
Bank 21,380
Stationeries 1,330
Capital 73,400
Drawings 6,100

Inventory as at 31 December 2021 was valued at RM25,000.

You are required to prepare:

a) A Trial Balance as at 31 December 2021

b) A Statement of Profit or Loss for the year ended 31 December 2021.

c) A Statement of Financial Position as at 31 December 2021.

QUESTION 6
Zaiton, the owner of Helang Enterprise has hired you as an account assistant. She requested
you to prepare the financial statement for her business and provides the following details as
at 30 April 2021:

Particulars RM
10% Fixed Deposit 15,000
7 year loan from MBB 245,000
Accounts Receivable 25,000
Accounts Payable 24,500
Bank 36,800
Capital 283,100
Carriage inward 8,200
Cash 7,400
Commission expense 3,800
Commission received 6,800
Electricity 2,500
Rent Received 5,300
Drawings 3,000
General Expenses 3,500
Insurance on purchase 2,300
Interest on loan 2,500
Inventory as at 1 May 2020 70,000
Land and Building 265,550
Motor Vehicles 140,000
Office Equipment 28,000
Purchase 200,000
Rent Expense 4,200
Return Inwards 2,300
Return Outwards 1,850
Salary and Wages 25,000
Sales 280,000
Utilities 1,500

Inventory as at 30 April 2021 was RM 75,000

Required:

a) A Trial Balance as at 30 April 2021

b) Prepare a Statement of Profit or Loss for the year ended 30 April 2021

c) Prepare a Statement of Financial Position as at 30 April 2021

QUESTION 7
The following balances were extracted from the books of Tanjong Enterprise as at 31 March
2021:

RM
Capital 552,500
Sales 220,000
Drawings 1,250
Purchases 179,250
Vehicles 30,000
Plant and Machinery 175,000
Land and Building 250,000
Return Inwards 20,000
Return Outwards 4,150
Stationeries 600
Dividend income 200
Debtors 105,400
Creditors 92,800
Carriage inward expenses 4,000
Duties on Purchases 6,450
Salaries and Wages 100,800
Electricity and Water 26,000
Rates 1,900
Insurance 24,000
Mortgage 50,000
Salesman's Commissions 12,000
Interest on Mortgage Loan 7,500
Repairs and Petrol 1,900
Long term Loan from BIMB 60,000
Rental revenue 1,250
Stock at 1st April 2020 17,000
Cash at Bank 17,850

Closing stock as at 31 March 2021 is RM 29,000

Required:

a) A Trial Balance as at 31 March 2021

b) Prepare a Statement of Profit or Loss for the year ended 31 March 2021
c) Prepare a Statement of Financial Position as at 31 March 2021